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Interest on Non NRE/NRO account in India

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  • Interest on Non NRE/NRO account in India

    1. I have a few fixed deposits in India that are neither NRE nor NRO. I inherited these when my dad passed away a few years back. Are these taxable in US?
    2. This year, the tax was deducted at source in India. If answer to question 1 is yes, do I file lower tax in US?

  • #2
    Originally posted by fbarfiler View Post
    1. I have a few fixed deposits in India that are neither NRE nor NRO. I inherited these when my dad passed away a few years back. Are these taxable in US?
    2. This year, the tax was deducted at source in India. If answer to question 1 is yes, do I file lower tax in US?
    Yes. Any outside-US income is taxable.

    How much income and what years are you talking about?

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